Oregon health insurers announce expected premium hikes for individuals and small businesses in 2026

Premium Increases for Oregonians’ Health Coverage

Residents of Oregon who purchase health coverage through small businesses are facing premium increases next year. This change is part of the proposed adjustments from local health insurance companies for the 2026 Health Plan, with an average hike of around 10% for individuals and more than 11% for small and medium-sized companies. Insurers attribute these proposed increases to various factors, including inflation, uncertainty regarding federal tariffs on prescription drugs and medical devices, and rising healthcare costs.

For the approximately 161,000 Oregonians buying insurance through individual markets, the average proposed increase is set at 9.7%. This figure is slightly higher than what insurers asked for last year.

Out of the six companies applying for these increases, the Kaiser Foundation Health Plan is requesting the most significant hike—almost 13%. If approved, it would affect more than 33,000 individuals. For instance, the monthly premium for the long-standing Kaiser Silver Plan in Portland could climb from $486 to $518.

On another note, PacificSource Health Plans has proposed a minimum increase of 3.9% in individual markets, impacting about 14,000 customers. Those holding a PacificSource Silver Plan might notice a roughly $20 bump in their monthly bill.

Other companies have also put forward their proposals: Bridgespan Health Company wants an average increase of 12.6%, while Regens Bluecross BlueShield and Moda Health Plan are proposing hikes of 9.2% and 8.1%, respectively, among others.

Small businesses aren’t exempt either. Around 142,000 Oregonians receive coverage through small group markets targeting businesses with fewer than 50 employees. While employers often cover a chunk of the premiums, overall costs are set to rise further. Here, eight insurers are suggesting an average net increase of 11.5%, which is a minor drop from last year’s 12.3% increase.

Providence Health Plan is once again aiming for the largest hike, suggesting 21.5%, which would impact over 38,000 workers and their families. For a 40-year-old in Portland enrolled in the Providence Silver Plan, premiums could range between $467 and $598, depending on the employer’s contribution.

PacificSource is proposing a lower increase of just over 5% in this market.

It’s worth noting that these proposed rate hikes are still under review. Over the next couple of months, Oregon’s financial regulatory department will analyze the filings to assess whether these increases are justified.

The rates for plans offered by larger employers don’t typically go through the same review processes as smaller ones.

Additionally, there are two public meetings scheduled: one on June 20th from 8:30 AM to 11:30 AM, and another on July 18th from 12 PM to 3 PM. During these sessions, insurance companies will present their cases and gather feedback from the public. Comments can also be submitted online until June 20th.

According to State Insurance Commissioner Andrew Storphy, the suggested increases reflect a mix of individuals looking for federal healthcare options and recent actions that have created uncertainty for insurers. Nonetheless, he emphasized that Oregonians still have choices, noting that programs like the state’s reinsurance system have helped keep premiums relatively lower.